Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
shares in Millions, $ in Millions
Mar. 31, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 531 $ 493
Trade receivables, net 274 295
Prepaid expenses 52 45
Other current assets 54 67
Total current assets 911 900
Property and equipment, net 268 278
Goodwill 1,525 1,525
Other non-current assets 231 226
Total assets 4,640 4,644
Current liabilities:    
Current portion of long-term debt 516 21
Accounts payable 27 28
Deferred revenues 78 71
Accrued expenses and other current liabilities 203 226
Total current liabilities 824 346
Long-term debt 2,076 2,576
Deferred income taxes 364 359
Deferred revenues 160 158
Other non-current liabilities 225 242
Total liabilities 3,649 3,681
Commitments and contingencies (Note 11)
Stockholders’ equity:    
Preferred stock, $0.01 par value, authorized 6.0 shares, none issued and outstanding 0 0
Common stock, $0.01 par value, authorized 600.0 shares, 101.1 and 100.8 issued and outstanding at March 31, 2021 and December 31, 2020 1 1
Treasury stock, at cost – 7.7 shares at March 31, 2021 and December 31, 2020 (408) (408)
Additional paid-in capital 1,508 1,504
Accumulated deficit (72) (82)
Accumulated other comprehensive loss (38) (52)
Total stockholders’ equity 991 963
Total liabilities and stockholders' equity $ 4,640 $ 4,644
Treasury stock, shares (in shares) 7.7 7.7
Trademarks, net    
Current assets:    
Intangible assets, net $ 1,202 $ 1,203
Franchise agreements and other intangibles, net    
Current assets:    
Intangible assets, net $ 503 $ 512